Asian stock markets mostly advanced Thursday after Japan's third quarter GDP was revised higher and the extension of U.S. tax cuts boosted expectations of stronger economic growth in the short-term.
The regional upswing came after modest gains in the U.S., where stocks fluctuated before turning positive late in the session. A compromise in Washington to extend tax cuts boosted shares and sent bond prices sharply lower, as some investors expect it to lead to stronger growth in the world's No. 1 economy.
Japan's benchmark Nikkei 225 stock average rose 0.2 percent to 10,253.72 as the dollar hovered near 84 yen, bolstering exporters who in past months were struggling with a much stronger yen.
Adding to the positive mood was revised figures that showed the economy grew an annualized 4.5 percent in the third quarter, more than initially estimated.
Hong Kong's Hang Seng index rose 0.3 percent to 23,150.54. South Korea's Kospi added 0.8 percent to 1,971.24 thanks to buying of tech and banking shares. Korean giant Samsung Electronics Co. jumped 1.6 percent, while rival LG Electronics Inc. was up 1.8 percent.
Australia's S&P/ASX 200 climbed 0.7 percent to 4,732.00 amid figures showing the unemployment rate fell to 5.2 percent and the number of employed people jumped by 54,600.
China's Shanghai Composite Index was off 0.8 percent at 2,826.63. Benchmarks in Taiwan and Singapore climbed.
The Dow Jones industrial average inched up 0.1 percent to 11,372.48 on Wednesday. The broader Standard & Poor's 500 index rose 0.4 percent, to a new yearly high of 1,228.28.
In currencies, the dollar slipped to 83.82 yen from 84.01. The euro rose to $1.3306 from $1.3261.
Benchmark crude for January delivery was up 71 cents at $88.99 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 41 cents to settle at $88.28 on Wednesday.
0 comments:
Post a Comment